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Max Capital parts company with co-founder Doucette
Max Capital president of reinsurance and co-founder John Doucette has left the company to "pursue other opportunities".
21 July 2008
Asset drag to hit Q2 results, but further reserve releases expected
As the second quarter earnings season begins in earnest, asset drag and casualty reserve releases are expected to emerge as dominant themes, while investors will look for guidance on the spate of weather-related losses and potential sub-prime liability...
21 July 2008
XL Capital struck off Chubb security list
Bermudian (re)insurer XL Capital's woes appear to have deepened this week with at least one insurer, understood to be Chubb, taking the company off its security list for facultative placements, The Insurance Insider can reveal.
21 July 2008
Clyde makes US appointment
Law firm Clyde & Co has hired Susan Stryker, formerly of Sterns & Weinroth, as it seeks to expand its US (re)insurance practice.
21 July 2008
Towergate sets up £100mn IFA warchest
Towergate Partnership subsidiary Towergate Financial has raised over £100mn to establish a national independent financial adviser (IFA) operation which it plans to build with the acquisition of regional IFAs.
21 July 2008
New Willis Re chairman named
Willis Group Holdings named Gary Schmalzriedt as the chairman of its reinsurance brokerage, Willis Re, last week.
21 July 2008
Scottish Re subsidiary slips further into junk status
Bermudian-headquartered Scottish Re has seen one of its subsidiaries sink further into junk status last week just days after the embattled reinsurer finally published its full-year results.
21 July 2008
Zurich rating unchanged on Banco stake
AM Best has left the ratings of Zurich Financial Services (ZFS) unchanged following the acquisition of a 50 percent stake in Spanish bank Banco Sabadell's insurance subsidiaries.
21 July 2008
UK motor rate increases buoy sector
UK motor underwriters were buoyed by the news that average premiums increased in the second quarter after reporting falling rates for the first quarter, according to the AA's Insurance Index.
21 July 2008
Lloyd's 'better positioned' to weather soft market conditions
Lloyd's is "better positioned" to weather the current insurance cycle thanks to recent initiatives to shore up capital and limit pressure on the central fund, according to rating agency Moody's.
21 July 2008
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